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RE: 25 Reasons Steem Will Replace Bitcoin as #1 Cryptocurrency by 2021!

in #dlive • 7 years ago (edited)

Hey , look at that , 2 people on internet debating without name calling :)

  1. Either bid bots are ok or are they not ok ? we need to make that determination first , if it's ok people will use leverage.

I understand the laws to break down monopoly to foster "free market" but I don't think that would apply within an ecosystem.

If it was upto me , bid bots shouldn't be allowed at all but I also know if we suppress the bid bots it will happen behind the scene on private chat servers .

Unless there is some manual curation or bid bot ban it's probably not going to change.

2.Centralized by people heavily investing in it and becoming whales , they are taking risk by investing and ought to be rewarded by the heavy influence they get in return.

To your broader point , yes, the title is clickbaity but I also see that @jerrybanfield has put a lot of effort in presenting the hour long well researched presentation.

7 years ago in #dlive by
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     7 years ago 
    1. If I could be gone with the voting bots, I wouldn't have them at all, but I know most likely that will never happen. But there are things that can be done to fix the payouts such as capping it, or playing out to more the the curators after a certain percentage.
    2. Imo, the power they have now is wayyyyyyyyy to much. Nobody should have these type of power to either upvote you or downvote you into Oblivion with 1 vote. That needs to change. This is definitely a fix they can do.
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     7 years ago 

    I guess what you are saying is break up the monopoly of whales by forcing them divest , it has happened in world with big companies but since there is no ID check behind Steem a whale can just create shadow account and split token amongst them.

    I do , however , take your broader point about the problem statement of few players having too much influence to leverage the rewards pool.

    Here is a potential solution - once you go above a certain reward value , a % is deducted ( let's call it steem tax ?) and that gets fed back into the system.


    Dramatic recreation :Here we see a regular steem user being Fuc$$d by a whale

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       7 years ago 

      Here is a potential solution - once you go above a certain reward value , a % is deducted ( let's call it steem tax ?) and that gets fed back into the system.

      They will just make more blogs and comment posts with sockpuppets to side-step any threshold.

      Sorry there’s no fix for Steem’s reward system. Can’t be fixed. I pointed that out back in 2016.

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       7 years ago 

      There will always be ways to abuse the system, it is just way too easy right now. They could at least attempt to implement a system to make it difficult.

      1. Rewards need exponentially more voting to increase rewards beyond certain thresholds.

      2. Whale accounts can not longer only upvote a single account and that is it. Make it so one single account cannot contribute more than 5-10% to the reward payout. These whale accounts also need to contribute to other accounts, so make it so they can only vote for a single account once a day, 3 times a week.

      3. have large payouts reviewed and have the possibility of them being denied/reduced by a random jury

      Will it fix the issue, not completely, but at least it will make it harder from them to scam the system

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